Ford Motor (F) June Sales Down 7%
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Price: $13.94 -0.43%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 5.8%
Revenue Growth %: -4.1%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 5.8%
Revenue Growth %: -4.1%
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Ford Motor (NYSE: F) said June U.S. sales totaled 269,404, down 7 percent. Car sales were up 7 percent, but truck sales were down 14 percent.
The company said higher gas prices are contributing to lower truck sales, particularly in the large SUV and pickup categories. Traditional truck-based SUVs have declined industry-wide for four years in a row, but the decline in large pickups is a relatively recent phenomenon.
Ford's F-Series truck posted June sales of 65,452, down 10 percent compared with a year ago. Explorer sales were off 36 percent in June and Expedition sales were off 46 percent.
The company said higher gas prices are contributing to lower truck sales, particularly in the large SUV and pickup categories. Traditional truck-based SUVs have declined industry-wide for four years in a row, but the decline in large pickups is a relatively recent phenomenon.
Ford's F-Series truck posted June sales of 65,452, down 10 percent compared with a year ago. Explorer sales were off 36 percent in June and Expedition sales were off 46 percent.
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